Business
Five-year $7.8m baggage screening contract
Five-year $7.8m baggage screening contract.
About this update from Kromek Group Plc
[{"type":"text","content":"\n \nRNS Number : 6929H Kromek Group PLC 19 November 2018 \n\n19 November 2018 \n \nKromek Group plc\n(\"Kromek\" or the \"Company\")\n \nKromek secures five-year $7.8m baggage screening contract\nKromek's second long-term contract in the baggage security screening market to develop and deploy next-generation detector modules \n \nKromek (AIM: KMK), a radiation detection technology company focusing on the medical, security and nuclear markets, is pleased to announce that it has been awarded a new long-term supply contract worth a minimum of $7.8 million by an existing OEM customer, a leading company in x-ray imaging systems, for the baggage security screening market. \n \nThe contract, which is for the customisation of current technologies and CZT detector modules and deployment in the baggage security screening market, covers a five-year period and commences immediately. Kromek's technology is designed to enhance the detection of an extensive range of threat materials, providing improved accuracy and efficiency.\n \nArnab Basu, CEO of Kromek, commented: \"This is another significant, long-term contract in the security screening market for Kromek. It continues a trend of multi-year contracts we are signing as customers move away from legacy systems and embrace CZT detection technology. Our expertise makes us ideally positioned to develop customer-specific detector modules and to efficiently deploy these in advanced screening systems for real-world use. We look forward to rolling out this detection technology to help protect staff and passengers at airports, border crossings and other points of entry or areas of security concern.\"\n \n \n \nFor further information, please contact:\n \n\n\n\nKromek Group plc\n\n\n\n\n\n\n\nArnab Basu, CEO\nDerek Bulmer, CFO\n \n\n\n+44 (0)1740 626 060\n\n\n\n\nCenkos Securities plc (Nominated Adviser and Joint Broker)\n\n\n\n\n\n\n\nMax Hartley (NOMAD)\nJulian Morse (Sales)\n \n\n\n+44 (0)20 7397 8900\n\n\n\n\nCantor Fitzgerald Europe (Joint Broker)\n\n\n\n\n\n\n\nPhilip Davies\nWill Goode\n \n\n\n+44 (0)20 7894 7000\n\n\n\n\nLuther Pendragon Ltd (PR)\n\n\n\n\n\n\n\nHarry Chathli \nClaire Norbury\nAlexis Gore\n\n\n+44 (0)20 7618 9100\n\n\n\n \nAbout Kromek Group plc\n \nKromek Group plc is a technology group (gl...